Shares of jute companies surge; Ludlow Jute, Cheviot Company up over 10%

Shares of jute & jute product companies such as Ludlow Jute & Specialities, Cheviot Company and Gloster have rallied by up to 20% on the BSE after the government imposed anti-dumping duty on jute from Bangladesh and Nepal.

“Government imposed anti-dumping duty ranging from USD 6.30 to USD 351.72 per tonne on imports of jute and its products from Bangladesh and Nepal to protect domestic industry,” the PTI report suggests.

The anti-dumping duty has been imposed for five years, a revenue department notification said.

The import restrictive levy has been imposed on jute yarn/twine, Hessian fabric and